The Indian rupee saw an unprecedented low as its strength ebbed further against the US dollar. The Indian rupee staggered to this all-time low after sliding down by 22 paise to be valued at 70.32 against the US dollar.
Against the UAE dirham, the rupee is currently trading at 19.20 as of 12:00 pm UAE time. The fall of the rupee can be attributed to the demand for the US dollar from importers. Besides, traders are of the opinion that fallout for the decline of currencies is because of the dollar’s strength that influenced the domestic unit.
Yesterday, the rupee had managed to gain a slight leeway when it gained 6 paise to end at 70.10 against the US dollar. Consequently, the BSE senses also saw some fluctuations with the benchmark rising almost 100 points to an unmatched 38,986.65 while Nifty touched a high of 11,751.